People need truck drivers to get items they order. Whether that driver is going from one of the key ports of entry to a company’s warehouse or traveling from a warehouse to a store or manufacturing plant, truck drivers are one of the nation’s most important employees.
They drive from farms to grocery stores or dairy processing plants, petroleum refineries to storage tanks, and storage tanks to gas stations. Van and delivery drivers bring the items people order to their stores or a pick-up location like a UPS Store. The work is vital, but the driver shortage isn’t getting better. Saint John Capital dives into one population of Americans that may be our saviors, yet again.
The Nation’s Truck Driver Shortage: It’s Reaching a Critical Point
BLS.gov reports that the number of heavy and tractor-trailer truck drivers is growing at a rate of about 5% per year. In 2023, there were over 2.2 million jobs available with about 240,000 new jobs added each year as older drivers retire or leave the industry.
Delivery truck and van driving jobs are increasing faster than average at 9%. There were almost 1.6 million jobs in 2023 and the number of jobs opening each year is close to 184,000. Immigrants make up almost 18% of the truck drivers in the U.S. As deportations continue across the country, the truck driver shortage is only going to get worse. Some wonder if veterans could fill the many job openings within the trucking industry.
Veterans Are an Overlooked Solution That Benefit the Trucking Industry
According to the U.S. Census, there were 15.8 million veterans in the nation and 1.7 million of them are women. Of those millions, only 27.9% are 75 or older and 8.3% are 34 or younger. That leaves a large percentage who leave the military that still need gainful employment. Of them, 250,000 were unemployed in 2024. Sixty-five percent of those who were unemployed were between the ages of 18 and 54.
According to the VA, the leading reason for unemployment after leaving the military is that employers don’t see how a military career provides veterans with the experience needed for a specific job. Truck driving is ideal for veterans as they’ve learned the best skills truck drivers need.
Veterans are a great solution to solve the trucking industry’s driver shortage because they have the self-discipline, problem-solving skills, and resiliency that are essential for driving a truck. They’re also very aware and are trained to always scope their surroundings and be aware of potential hazards. They’re also great listeners and hard workers, which adds to the many reasons they’re perfect for truck driving positions.
As a veteran, there are also several benefits you gain as a truck driver. In addition to being an important job, it can also be very flexible. After gaining your commercial driver’s license (CDL), you don’t have to join a company unless they pay for your CDL in exchange for a commitment to work for them. As an independent truck driver, you take on as much work as you want and the routes you prefer. You might want to be a long-haul driver and see the nation. You may prefer to stay close to home.
If you have an emotional support dog helping you through PTSD or anxiety, your dog is a great travel companion when you’re on the road. It’s also a job full of new adventures and challenges every day as you meet new people, travel to new cities and towns, and learn the best detours when there are weather-related or high-traffic delays.
Are Initiatives and Programs in Place to Connect Veterans with Trucking Jobs?
The GI Bill offers a way to pay for the training to get a CDL. There are also organizations out there, such as Hiring Our Heroes, a part of the U.S. Chamber of Commerce Foundation, that help connect veterans with training programs that either the employer covers the costs of getting a CDL or the GI Bill covers.
Hiring Our Heroes pairs veterans with a Career Connector advisor who looks at the veteran’s application and interests and finds them applicable training programs and jobs. If you own a trucking company, it’s a good way to connect with veterans looking for apprenticeships that help them become truck drivers. If you’re a driver looking to start a career as an owner-truck driver, getting your CDL is the first step, and an advisor helps you with that step.
A Strong Cash Flow Maximizes Your Chances for Competitive Benefits Packages
One of the best ways to draw veterans to your open driving positions is by ensuring your benefits package is competitive. You don’t have to match your competition, but you need to offer benefits they don’t. If you think about what many veterans want, you want to focus on aspects like this:
- Access to Technology: Trouble-free service is important for checking route planners, uploading bills of lading, and checking messages via phone and text. Allowing drivers to use company wireless service to check in with family and friends during breaks is a nice touch.
- ADA Compliance: Trucks equipped with hand controls and wheelchair lifts for disabled veterans.
- Appealing Work Hours: Adjustable schedules that help them choose the best hours and days for working.
- Bring a Pet: Dog-friendly trucks with optional pet insurance benefits.
- Bring Family: Ability to have a friend or family member on the road with them for emotional support and to prevent loneliness.
- Continuing Education: While veterans have access to things like the GI Bill for now, you could consider adding options to continue their education. They may want to work to become certified for oversized, FEMA, or hazardous loads.
- Convenient Wages: Option to get paid on demand, such as daily pay or paycheck advances.
- Healthcare Costs: Competitive health, dental, and life insurance packages.
- Keeping in Shape: Memberships to a national fitness gym that’s accessible when on the road.
In order to have the best benefits package, you need to make sure you have a strong cash flow, too. Freight factoring is a great way to achieve this. Typically, you invoice your brokers or shippers and wait weeks or even months before they send the payment. They may be stuck in old-school patterns of mailing a check. Once it arrives via the USPS, you have to deposit that check and ensure it clears their bank before you can access the funds.
Instead of waiting, a freight factoring company pays you the advance on the money you’re owed. You have a continuous cash flow and the factor handles invoicing and collections. It’s a better way to operate. Sure, there is a small fee, but it’s a fraction of what late payments or credit card interest costs you. It’s also going to boost your credit score by paying bills on time every month.
Reach out to the team at Saint John Capital to learn more about the different factoring options. We’ll discuss the freight factoring fees, arrangements that help you keep the fees as low as possible, and how to get started.
